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201300074
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Last modified
12/31/2013 10:45:42 AM
Creation date
1/4/2013 2:32:31 PM
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DEEDS
Inst Number
201300074
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201300074 <br /> Permits which cannot be transferred or encumbered by Trustor without causing a default thereunder <br /> or a termination thereof. <br /> GRANTING CLAUSE IX <br /> Proceeds and Awards. All estate, right, title and interest of Trustor in, to, under or <br /> derived from all proceeds of any sale, transfer, taking by condemnation (or any proceeding or <br /> purchase in lieu thereof), whether voluntary or involuntary, of any of the Mortgaged Property <br /> described above, including all insurance proceeds and awards and title insurance proceeds,now or <br /> hereafter relating to any of the Mortgaged Property, all of which Trustor hereby irrevocably directs <br /> be paid to Beneficiary to the extent provided hereunder, to be held, applied and disbursed as <br /> provided in this Deed of Trust or in the Credit Agreement. <br /> TO HAVE AND TO HOLD the Mortgaged Property unto Trustee,its successors and <br /> assigns,for the benefit of Beneficiary, its successors and assigns,under and subject to the terms and <br /> conditions of this Deed of Trust, and for the security and enforcement of the prompt and complete <br /> payment and performance when due of all of the Obligations and the performance and observance by <br /> Trustor of all covenants,obligations and conditions to be performed or observed by Trustor pursuant <br /> to the Credit Agreement, the Note, and the other Loan Documents. <br /> PROVIDED, HOWEVER, that this Deed of Trust is upon the condition that, if <br /> Trustor shall pay in full all of the Obligations and perform and observe all such covenants, <br /> obligations and conditions,this Deed of Trust shall cease,terminate pursuant to and in accordance <br /> with Section 6.02 and,thereafter,be of no further force effect(except as provided in Sections 4.01. <br /> 4.02 and 5.06 hereof); otherwise this Deed of Trust shall remain and be in full force and effect. <br /> FURTHER PROVIDED,that Trustee and Beneficiary may from time to time release <br /> or reconvey all or a portion of the Mortgaged Property, in accordance with the terms and conditions <br /> of the Credit Agreement and applicable law. <br /> The Trustor covenants with the Beneficiary that Trustor is the owner of a valid and <br /> subsisting leasehold interest in and to the Mortgaged Property; that the same is free from all <br /> encumbrances,except for the Permitted Liens(hereinafter defined);that Trustor has good right,full <br /> power and lawful authority to sell and convey the same to Beneficiary and that Trustor and its <br /> successors and assigns, executors and administrators shall and will warrant and defend the same to <br /> the Beneficiary and its successors and assigns forever against claims and demands of all persons. <br /> TRUSTOR ADDITIONALLY COVENANTS AND AGREES WITH TRUSTEE <br /> AND BENEFICIARY AS FOLLOWS: <br /> ARTICLE I <br /> DEFINITIONS <br /> SECTION 1.01. Definitions. Capitalized terms used, but not otherwise defined <br /> herein,are defined in,or by reference to the Credit Agreement and have the same meanings herein as <br /> therein. <br /> -6- <br />
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